The board of directors of Yip's Chemical Holdings Limited announced the following changes in directorate, chief executive officer and composition of board committees of the company: Mr. Ng Siu Ping will retire after 31 December 2018 and will resign as an independent non-executive director, the chairman of the remuneration committee, a member of the audit committee and a member of the health, safety and environment committee of the company with effect from 1 January 2019. Mr. Wong Yuk, an executive director of the company will be re-designated as a non-executive director of the Company and will be appointed as a member of the remuneration committee, a member of the audit committee and a member of the health, safety and environment committee of the company with effect from 1 January 2019. Mr. Wong Yuk will also resign as a co- chief executive officer of the Group and a member of the senior leadership team of the Group (SLT member) with effect from 1 January 2019.

With Mr. Wong Yuk's resignation as a Co-Chief Executive Officer, Mr. Yip Tsz Hin as the other Co- Chief Executive Officer will be re-designated as the chief executive officer of the Group with effect from 1 January 2019 and will remain as the deputy chairman of the Group, an Executive Director and a SLT member. Mr. Ip Kwan will be appointed as the deputy chief executive officer of the Group and an Executive Director. Both Mr. Yip Tsz Hin and Mr. Ip Kwan will report to the Board with effect from 1 January 2019.

Mr. Ho Pak Chuen, Patrick, an independent non-executive director of the company and a member of the remuneration committee, will be appointed as the chairman of the remuneration committee of the company with effect from 1 January 2019. Mr. Wong Yuk joined the Group in 2015. Mr. Wong Yuk is currently a Co-Chief Executive Officer, an Executive Director and a SLT member.

He currently holds directorships in certain subsidiaries of the company. Before he joined the Group, he was the Managing Director - China Strategy and Investment of Methanex, a global market leader in methanol. He had also worked Mr. Wong Yuk's term of directorship will last until the closing of the 2019 annual general meeting of the Company, subject to retirement by rotation and re-election in accordance with the articles of association of the company and the Rules Governing the Listing of Securities on the Stock Exchange.

Mr. Yip Tsz Hin joined the Group in 1977. Mr. Yip Tsz Hin is currently the deputy chairman of the Group, a Co-Chief Executive Officer, an Executive Director and a SLT member. Mr. Yip Tsz Hin holds directorships in certain subsidiaries of the Company.

Mr. Yip Tsz Hin has over 40 years of experience in the manufacture of and trading in petrochemical products. He is the brother of Mr. Ip Chi Shing, the Chairman and a non-executive director of the Company. Mr. Ip Kwan joined the Group as an assistant to director of the Group in 2007.

Mr. Ip Kwan is currently the chief corporate development officer of the Group and a SLT member. He holds directorships in certain subsidiaries of the Company. Mr. Ip Kwan was previously a co-president of the Bauhinia Coatings Group and the general manager of the Bauhinia Coatings Group Limited.